Swiss Re announced that it has completed the acquisition of the remaining 65 percent interest it didn’t already hold in Società Italiana Cauzioni (SIC), a Rome based bond and credit insurer, which employs 163 people in 88 agencies throughout Italy. Swiss Re has held a minority interest in SCI since 1975.
It plans to increase links between SCI and its Dutch based subsidiary NCM, in which it holds a 90 percent interest. “As part of the Swiss Re Group, SIC will immediately benefit from the scale of a global organisation and will be able to substantially enhance its previously announced cooperation with NCM,” said the announcement.
NCM is a global credit insurer based in Amsterdam; which covers risks of non-payment, debt collection and “related credit management services.” It had $456.5 million in turnover last year.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
Ship Insurers Set for Major Claims From Iran War, Allianz Says 
Florida’s Unemployment Rate Is Surging Even as High-Profile Companies Move In 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
‘We’ll Want Some Proof’: State Farm CEO’s Take on NY Auto Insurance Reforms 
